China Unicom's Net Profit Jumps 47%

HONG KONG—China Unicom (Hong Kong) Ltd.'s net profit last year rose 47% from a year earlier, as it gained mobile subscribers and reduced handset subsidies.

China's telecommunications carriers have been improving networks to meet an increase in data traffic as more consumers replace basic cellphones with smartphones. China has already overtaken the U.S. as the world's biggest smartphone market.